What is an FHA Loan?
The Federal Housing Administration (FHA), a division of the Federal department of Housing and Urban Development, is a government bureau that insures home loans for buyers with low to moderate-income and less-than-perfect credit, with a smaller budget for a down payment.
FHA-backed loans typically have monthly payments up to 20% less than traditional loans and require as little as 3.5% of the purchase price as a down payment.
Additionally, down-payment-assistance grants may be available to help buyers obtain an FHA loan with even less money down, possibly 0% down.
First-time home buyers and/or buyers with lower but stable income and derogatory entries on their credit reports may find an FHA loan to be the quickest, most affordable route to home-ownership.
Choosing the right loan that matches your needs and getting the best rate for your specific situation can be a stressful and overwhelming process. We're here to help you go through the entire loan process in the smoothest way possible. Let's start with a FREE FHA Loan Quote.
